EU enters ‘winter panic’ mode as gas storage hits record low – Guardian

Traders are bracing for soaring prices amid the Iran war and energy sanctions on Russia

EU gas storage is now at one of the lowest seasonal levels on record, with the shortfall feeding a “winter panic” among traders amid the Iran war and Brussels’s continued push to phase out Russian energy, according to The Guardian.

EU gas stocks are at around 64% as of Friday, far below the 80% average maintained during this season over the past several years, according to the European Network of Transmission System Operators for Gas (ENTSOG).

For comparison, EU stocks were at about 66% on August 29, 2021, and around 72% on the same date in 2013, although…

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